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Historical research shows European rabbits, not native to Britain, were introduced after the Norman Conquest and remained a rare luxury reserved for kings and nobles through the 1200s, including gifts of live rabbits from Henry III. After the Black Death of 1346-1353 reshaped English society, rabbits gradually became more widely available as living standards for ordinary people improved.
Bank of England Governor Andrew Bailey told the BBC the central bank is closely monitoring massive investment flowing into AI, warning that asset prices for AI-linked firms could face a correction. He noted Nvidia's $5.5tn valuation and heavy spending by Alphabet, Meta, Microsoft and Amazon, alongside plans by Anthropic and OpenAI to sell shares on US markets.
Bank of England Governor Andrew Bailey wrote in his first Substack post that AI risks are 'real and increasingly significant' but that regulation is not the starting point. He argued for rigorous testing to identify vulnerabilities first, alongside safeguards and boundaries for AI operation, while stressing AI development should continue given its immense benefits.
A developing nor'easter is expected to bring strong northeasterly winds, heavy surf and rain from North Carolina to Nova Scotia this weekend, with gusts of 60 to 70 mph forecast for New England on Friday and Saturday. Forecasters warn of coastal flooding, beach erosion, dangerous rip currents, isolated power outages, and flight delays at New York and Boston airports, though the storm's exact track and duration remain uncertain.
A literary essay examines the Tudor monarchy that followed Richard III, arguing that Henry VII's rise and the subsequent Tudor reign directly influenced Shakespeare's history plays, partly functioning as pro-Tudor propaganda. It recounts how Henry VII secured his throne by defeating Yorkist rebels at the Battle of Stoke Field after marrying Elizabeth of York, and frames the Tudors as arguably England's most consequential royal dynasty.
The Nederlandsche Bank (DNB) confirmed it moved gold worth more than 10 billion euros away from vaults in New York and Ottawa between March and August, sending most of it to the Bank of England in London while some was also routed through its Zeist facility. The move reduced New York's share of Dutch reserves from 31.3 percent to about 18.5 percent, with a similar cut in Ottawa's holdings.
Geologists have identified a long-dormant supervolcano beneath England as the origin of the Kinnekulle tephra, a volcanic ash layer found across parts of Europe. The discovery resolves a decades-old mystery about the source of this widespread ash deposit, which had puzzled scientists studying the region's geological history.
Bank of England Governor Andrew Bailey, writing as chair of the Financial Stability Board, told G20 finance officials that cutting-edge AI models could sharply increase the speed, scale and affordability of cyberattacks on the financial system. He warned that many countries still lack rules to govern how these advanced models are developed, released and deployed, leaving the sector exposed. Bailey urged banks and tech providers to bolster defenses and prepare for scenarios where multiple firms are hit simultaneously through shared technology dependencies.
Bank of England Governor Andrew Bailey cautioned that artificial intelligence could threaten global economic stability, citing risks from enhanced cyber capabilities and inflated market valuations tied to AI-driven growth. His remarks add a central banker's voice to growing concerns about AI's financial and security implications.
Bank of England Governor Andrew Bailey told G20 finance ministers that a collapse in AI sector growth could trigger a market correction that ripples across the world economy. He pointed to high stock valuations, rising investor leverage, and growing financial ties between AI firms and major tech companies as factors that could magnify such a shock, while also flagging cyber security risks from coordinated attacks on multiple firms at once.
Bank of England Governor Andrew Bailey, writing as chair of the Financial Stability Board, told G20 finance ministers that advanced AI models are gaining autonomy and threat capabilities that could destabilize markets. He flagged cyber risk tied to concentrated third-party tech providers as the most pressing danger, warning many countries lack rules to govern how such models are developed and deployed.